OMERS ADMINISTRATION Corp Increases Position in Blue Owl Capital Corporation $OBDC

Key Points

• OMERS Administration Corp boosted its Blue Owl Capital position by 71.3% in Q1, buying more than 1.28 million shares and lifting its stake to 3.09 million shares worth about $34.1 million.
• Several other institutional investors also increased holdings, and hedge funds and institutions now own 42.83% of Blue Owl Capital’s stock.
• Analyst sentiment is mixed but constructive: the stock has a Moderate Buy consensus with a $13.00 target, even as some firms cut price targets and Blue Owl recently missed quarterly earnings and revenue estimates.

OMERS ADMINISTRATION Corp grew its position in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 71.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,085,234 shares of the company's stock after buying an additional 1,284,222 shares during the quarter. OMERS ADMINISTRATION Corp owned 0.62% of Blue Owl Capital worth $34,123,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Callodine Capital Management LP increased its position in shares of Blue Owl Capital by 50.0% during the first quarter. Callodine Capital Management LP now owns 450,000 shares of the company's stock worth $4,977,000 after acquiring an additional 150,000 shares during the period. Alamar Capital Management LLC acquired a new position in Blue Owl Capital during the 1st quarter worth $229,000. NewEdge Wealth LLC increased its holdings in Blue Owl Capital by 81.6% during the 1st quarter. NewEdge Wealth LLC now owns 758,426 shares of the company's stock worth $8,388,000 after purchasing an additional 340,861 shares during the period. Bulldog Investors LLP increased its holdings in Blue Owl Capital by 42.0% during the 1st quarter. Bulldog Investors LLP now owns 338,369 shares of the company's stock worth $3,742,000 after purchasing an additional 100,094 shares during the period. Finally, Johnson Financial Group Inc. raised its position in Blue Owl Capital by 43.0% in the 1st quarter. Johnson Financial Group Inc. now owns 569,764 shares of the company's stock valued at $6,497,000 after purchasing an additional 171,374 shares in the last quarter. Hedge funds and other institutional investors own 42.83% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wall Street Zen upgraded Blue Owl Capital from a "sell" rating to a "hold" rating in a report on Saturday. Keefe, Bruyette & Woods decreased their target price on Blue Owl Capital from $12.50 to $12.00 and set a "market perform" rating for the company in a research note on Thursday, April 16th. Truist Financial lowered their price target on Blue Owl Capital from $15.00 to $13.00 and set a "buy" rating for the company in a report on Tuesday, May 19th. Wells Fargo & Company dropped their price target on shares of Blue Owl Capital from $12.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Friday, May 8th. Finally, Capital One Financial set a $13.00 price target on shares of Blue Owl Capital in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.00.

Blue Owl Capital Stock Performance

NYSE:OBDC opened at $10.78 on Friday. The firm's fifty day moving average price is $10.99 and its 200 day moving average price is $11.38. Blue Owl Capital Corporation has a 1-year low of $10.52 and a 1-year high of $14.89. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 15.39 and a beta of 0.62.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.04). Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%.The business had revenue of $391.00 million for the quarter, compared to analysts' expectations of $422.02 million. On average, sell-side analysts expect that Blue Owl Capital Corporation will post 1.27 EPS for the current year.

Blue Owl Capital Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.24 annualized dividend and a yield of 11.5%. Blue Owl Capital's dividend payout ratio (DPR) is presently 177.14%.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation NYSE: OBDC is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit‐investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company's investment activities span a range of private credit products, including first‐lien senior secured loans, unitranche facilities, second‐lien financings, mezzanine debt, and minority equity co-investments.

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